Savvy small businesses take a proactive approach to seizing all the business tax credits and deductions they’re legally entitled to under current tax law. Don’t add to your tax bill by overlooking crucial write-offs or stumbling over IRS penalties. Find Small Business Tax Deduction Strategies on: depreciation expense, employment taxes, business gifts, family business, business expenses, vehicle leasing and buy-sell agreements. Learn about Section 179 depreciation and IRS regulations that affect small business tax issues.

We bought U.S. Savings Bonds for my
daughter when she was born, and she also received EE bonds as gifts.
Now that she is in her freshman year at college, we want to use the
bonds to pay for tuition. Should she cash in all the bonds this year?
Isn’t the interest tax-exempt if the money is used to pay for college?
A.R.S., Massachusetts

The IRS doesn’t want you to be hooked in a phishing expedition: It’s
taking steps to scare away the anglers. The IRS has established an
electronic mailbox—phishing@irs.gov—for you to forward
suspicious-looking e-mail claiming to be from the agency. (IRS internal release 2006-49)

Taxes may be the last thing on your mind when you’re bogged down in a messy legal battle. But errors in the way you draft a settlement agreement could mean thousands of dollars going to Uncle Sam instead of into your pocket.

Congress is considering reforming (permanently, this time) the confusing federal estate-tax law. But don’t wait for Congress to act before revisiting your personal estate plan. Changes already scheduled to take effect at year-end hasten the need to dust off your family’s estate plan later this year, regardless of Congress’s actions.

Two separate studies have found that people aren’t taking advantage of two very basic breaks from work: lunch and vacation. A May survey of 1,000 office workers found that more than half of them take 30 minutes or less for lunch.

Today's Training:

The federal government predicts its new crackdown on employee misclassification will reap at least $7 billion in federal revenue over the next 10 years. Don't become a notch on the IRS' belt! Discover your compliance mistakes nowâbefore the feds doâand learn how to manage your independent contractors legally....Click here to find out more.